PPR - Z buyable gap up
Z is looking to gap up at today's open based on premarket trading. To qualify for a buyable gap up, it would have to gap up to at least 37.41 (= 0.75 x 40 day average true range + yesterday's closing price). It is currently trading 38.17 premarket.
Z reported strong earnings after yesteryday's close. Z has had triple digit percentage growth in both earnings and sales. Caveat: Z has been in a long basing pattern since it was IPO'd last July 2011. Stocks that have yet to prove themselves pricewise after such a long basing period carry slightly more risk.
Z provides a novel way to connect homebuyers with sellers and mortgage professionals by providing online real estate data. They are transforming the way consumers make home-related decisions and connect with real estate professionals. Their database consists of over 100 million U.S. homes that are for sale, for rent, and homes not currently on the market.
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